Podcast: Play in new window | Download
Subscribe: RSS
The 3 per cent assessment rate buffer doesn’t feel appropriate anymore.
Maybe for new borrowers looking to purchase and take on debt for the first time, but not for existing mortgage holders simply looking to refinance, to get a better deal, when they’ve already demonstrated an ability to repay at higher levels.
Most borrowers even those simply looking to refinance or renew interest only terms are being assessed at or above 8.5 – 9.0 per cent now.
An increasing number of clients are getting stuck at their current lenders often in loan products or loan structures which are not optimal.
Will the policy settings change soon? We are monitoring closely…
Enjoy the show!
—
The Long Property Show provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. Nothing in the Long Property Show constitutes legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
