Post-Election up-date Spring has sprung, daylight savings has started and the election is behind us… well nearly! More houses are coming onto the market with the turn in the weather and the property market is headed for a much-needed boost. Interest rates are holding steady and in recent weeks we have even seen the reduction of two and three-year fixed …Read More
Banks are reducing incentives for borrowers and making it harder to obtain loans. Incentives such as TVs, phones, and cash have been offered by banks to attract mortgage customers for years – but such incentives are thinning and the banks are imposing tough stress tests which make it harder for borrowers to meet lending criteria. Six months ago home-buyers were …Read More
Richard and Michelle moved out of their existing home and turned it into a rental property. Using the equity from this property they were able to buy a new home. The equation The rental property which was paid off had a value of $550,000. Their new home cost $550,000 as well, and they borrowed the full purchase price. This meant …Read More
With the recent release of the ANZ Property Investors Survey it provides a timely snapshot into the views of residential property investors. A few interesting and key insights from this year’s survey include: Confidence about buying property remains high. The proportion of investors planning to buy more properties rose to a net 69% of respondents, the highest since 2009, with …Read More
I recently re-fixed an interest rate for some clients who had come off a rate of 6.40%. They were delighted to find that they could fix for 2 years and a rate of 4.20%, saving them nearly $500 per month. However, when we talked things through they decided to keep their payments at the same level. The result? They could …Read More