New research suggests that one in three Australians would consider taking on a 40-year mortgage to reduce their monthly repayments, despite experts warning that this could lead to hundreds of thousands more in interest costs. While only four lenders in Australia offer 40-year loans, these options are primarily targeted towards first-home buyers. Although extending the loan term may lower monthly repayments, it could significantly increase the overall cost of the mortgage, with Finder’s head of consumer research advising against this financially risky move.
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Small business not convinced there’s much in Budget for them but see bigger picture
Scott Jones, owner of Diabolik bookstore in Mount Hawthorn, expressed disappointment with the State Budget, noting no changes in payroll tax or energy credits, and feeling it offered little support for small businesses. He acknowledged potential benefits from broader investments in housing and health but emphasized the increasing challenges of running his retail business amid rising expenses and longer working hours. Need More Context? 🔎
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