Summary – save money now, click here
advertised mortgage rates have been significantly cut in recent weeks
serviceability tests will remain as stringent (possibly more)
auction clearance rates are flatter than expected, this is a indicator banks will compete for customers
deposit requirements continue to escalate
lenders will continue to push to complete the quota of interest only loans
We are now 12 months into APRA’s tighter lending standards. Every single person that has applied for new finance has felt the brunt, living costs are deemed higher, rentals are counted as a smaller percentage and LVR causes issues.
The result is
1. Banks are lending less money
2. If you have finance already, a refinance is more than likely to deem a significant saving
PMI has partnered with Aussie Home Loans to help you take advantage of this ‘gap’ in market that will help you with savings. You should investigate if
1. You can obtain a loan below 4%
2. If you can move any of your investments to interest only
Aussie compares over 3000 loans, and with over 1000 brokers, will quickly and efficiently let you know if there is a possibility of saving. You can fill out the form here to check if you can save money here
🏡 Located closer than current 'big' winners
We picked it late last year, but Ipswich is still a great buy. Both core logic...