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Barry Stamp

Barry is a Chartered Banker and a Fellow of the Institute of Credit Management. He has a degree in Statistics and Business Economics. Barry writes mostly on news from the worlds of banking and mortgages.

Barry is Managing Director of checkmyfile.

Articles Recently Posted by Barry Stamp

Banks look to dampen the property market

Perhaps when even the banks’ lending the money are warning about property prices, it may be time to question whether the housing market is really getting out of hand. Mike Smith of ANZ expressed concern that the hotspots of Sydney and Melbourne are overheated as part of their announced quarterly plans, and that the bank was treating these areas in particular “very cautiously”.

All of the major banks have already made attempts to slow investor growth by changing requirements and upping interest rates for this sector, but the growth continues in the owner-occupier sector in these areas.

"You have seen us address the regulatory brakes being applied to investor lending," Mike Smith states.

"Australia is, however, made up .....

28 Sep 2015 by

Barry Stamp

 in 

Mortgages

Full Article

Even debt collectors are warning of the risks of stretched borrowing

Many of us are enjoying the benefits of low interest rates, but some in the financial industry believe that lenders are assessing borrowers on an assumption that interest rates remain low, and therefore are lending too easily.

The CEO of one of Australia’s largest debt collection agencies believes that banks should not be using rates of just 7% when checking affordability and that this is not high enough to prevent borrowers from borrowing more than they can afford. Roger Mendelson of Prushka questions whether borrowers will be able to afford rates rises and the banks themselves for not setting the ‘what if’ high enough.

At the moment the rates of borrowing sit at around 4.5% for a mortgage, but some are offering deals in th .....

9 Jul 2015 by

Barry Stamp

 in 

Mortgages

Full Article

Australians not ready for possible interest rate hike

Household debt has increased by 28% over the past 5 years and now sits at almost $1600bn, one of the highest levels of household debt in the world

22 May 2015 by

Barry Stamp

 in 

Dealing with Debt

Full Article

Low oil prices help savings at the petrol pump

Petrol at under $1 a litre? What a great start to the year, as petrol prices fall to under a dollar a litre in Sydney…

19 Jan 2015 by

Barry Stamp

 in 

Personal Finance

Full Article

Shop around for the best credit card deals

Borrowers are being advised to shop around for their credit card, rather than automatically heading to their bank

10 Oct 2014 by

Barry Stamp

 in 

Personal Finance

Full Article

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