The Northern Territory news Sat 2 Nov 2019
The Northern Territory news; NewspaperNT
Community newspapers -- Northern Territory -- Darwin; Australian newspapers -- Northern Territory -- Darwin
News Corp Australia
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News Corp Australia
SATURDAY NOVEMBER 2 2019 NEWS 17 V1 - NTNE01Z01MA CUSTOMERS who bank with smaller lenders are receiving many more rate cuts in full than if they banked with the big four, a new report has found. Of the past five cuts to the cash rate, the National Australia Bank and the Commonwealth Bank have only passed Smaller lenders best bet SOPHIE ELSWORTH on two in full, while Westpac and ANZ have passed on one. But, smaller lender Home star has managed to hand borrowers all of the past five rate cuts in full, bringing its owner occupier principal and interest variable rate down to just 2.74 per cent. On a $300,000 30year home loan its monthly repayments are $1223. NAB-offshoot UBank passed on the cut four times and Athena three times. Mozos spokeswoman Kirsty Lamont said while its unlikely RBA Governor Philip Lowe would cut the cash rate for the fourth time when the board meets on Melbourne Cup Day, borrowers should be seeing if they could get a cheaper deal. If you havent done any thing since the latest cuts its time to review your current rate against the best on to the market to see if you are still on to a winner, she said. Ms Lamont said owneroccupiers paying principal and interest were paying too much if their rate was above 3.5 per cent. UBanks chief executive officer Lee Hatton said more reductions to customers rates were possible because of the digital-only model. Coupled with the fact that we dont work with brokers, were able to put the savings directly back into our customers pockets in the form of super competitive rates, she said. UBank has among the cheapest mortgage deals starting from 2.84 per cent. Mortgage online bidding service LoanDolphins chief executive officer, Ranin Mendis, said more lenders were trying to attract customers by dropping fees and offering incentives such as cashback and frequent flyer points. There is also more noise and awareness around the back-book and front book pricing strategy adopted mainly by the big lenders, he said. Members of the Indonesian Navy at the last Mindil Beach Market for 2019 on Thursday night. Thousands attended the Halloween spectacular. The famous markets will return in April next year. But never fear there are plenty of other markets continuing throughout the wet season, including the Parap, Nightcliff and Rapid Creek markets Picture: GLENN CAMPBELL Fond farewell as Mindil wraps up for yearFond farewell as Mindil wraps up for yearFond farewell as Mindil wraps up for year Aged care cash promised THE Federal Government has promised a substantial immediate injection of money into aged care, but will need billions of dollars to fix a cruel and harmful system. The aged care royal commission wants a complete overhaul of a failing system, labelling it a shocking tale of neglect. It wants significant additional funding now to cut long waiting lists for in-home care, plus urgent action to stop the overuse of drugs to sedate residents and end a national embarrassment of 6000 younger people with disabilities being stuck in aged care. Prime Minister Scott Morrison (pictured) said there was already work being done in the urgent areas but there was much more to do. He promised more money will be spent on aged care before Christmas, through the mid-year budget update in December. Finance Minister Mathias Cormann said the figure would be substantial. There will be a strong response, he told Sky News yesterday. Dont stop them going THE father of one of Ivan Milats young victims has urged parents not to let it stop their children having adventures. Ian Clarke, whose daughter Caroline (pictured) and her friend Joanne Walters were the last backpackers to be killed by Australias worst serial killer, said she had been having the time of her life. He said a lot had changed since the two girls were murdered in 1992 and his message to young travellers was not to hitchhike. One thing that had stayed the same was that parents would always worry, he said. (But) to parents, dont stop them going, Mr Clarke said from their familys home in the north of England. Caroline and the others were desperately unlucky but they were a tiny minority and to the last they were having the time of their lives. Until the bodies of the seven backpackers were found in the Belanglo State Forest south of Sydney in 1992 and 1993, hitchhiking was almost considered a rite of passage. Call the Rhino Linings Darwin team on 08 8981 2277 or 0438 560 547 to arrange a free onsite quote. Epoxy, polyaspartic & polyurethane fl ooring systems. A Long term, durable, decorative solution for workshops, boats, residential & commercial fl ooring. www.autocarent.com.au/rhino-linings-darwin 3 Presley St, Stuart Park OLD MECHANICAL WORKSHOP? IS YOUR GARAGE FLOOR LOOKING LIKE AN