Put the party pies on ice and postpone those rate-cut celebrations for a while yet. The much-touted rate cuts we’ve been waiting for may not arrive until 2025. Here’s why rates could be staying higher for longer, and how to take action yourself.
June saw the Reserve Bank of Australia (RBA) keep the cash rate on ice – yet again.
Rates haven’t budged since November last year, and with the RBA not due to make another rate call until August, interest rates will remain in a holding pattern for at least two more months.
For home owners struggling to manage their home loan at current interest rates, it begs the question: ‘what happened to all the talk about rate cuts in 2024?’
Here’s what’s happening.
One reason why rates aren’t moving
Just a few months ago, some of our biggest banks were predicting interest rates would start to slide sooner rather than later.
The RBA expects it could be “some time yet” before inflation is happily nestled in that 2-3% range – the point at which long-awaited rate cuts may start to kick in.
It’s not much of a date for home owners to work towards, though the big banks have a few time frames of their own.
Westpac and NAB now both see rates heading south from December. And while CommBank recently stated it expected rates to fall in November, there are signs it’s losing hope for a 2024 rate cut.
“Given the challenging underlying inflation backdrop, as well as a labour market that is loosening more gradually than expected, the runway is shortening between now and November,” CBA’s head of Australian economics, Gareth Aird, said.
“The risk to our call is increasingly moving towards a later day for an easing cycle.”
Long story short, even if we do get a December 2024 RBA rate cut, it’s probably fair to say we won’t see those cuts flow through to home loans until early next year.
And a note of caution: the RBA mentioned in its June statement that it is “not ruling anything in or out”.
It’s a grim reminder that a rate cut is not guaranteed before another rate hike.
This is why it’s so important to take action of your own.
How to manage higher rates
Revisiting your household budget, identifying areas where you can cut back, and tucking spare cash into an offset account to save on loan interest are all steps worth considering.
That could provide extra cash each pay day to help pay off your home loan.
It’s also a good idea to speak to us for a home loan review.
We can let you know if you still have the loan that’s right for your needs, or if you could save by switching – without having to wait for RBA rate cuts.
Better still, rising national property values may mean you could be in a great position to refinance.
Talk to us today for more tips on managing your home loan repayments and possibly trimming your loan rate. It may mean the party pies can come out sooner!
Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.
About the Author:
Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.
Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).
Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.
The lending landscape has undergone significant changes, reshaping the dynamics of lending property and investment property lending rates. These shifts are crucial for understanding the current and future state of the property market. This article delves into how these changes are influencing both homebuyers and investors.
Overview of Recent Lending Law Changes
Recent modifications in lending laws, driven by a need to balance consumer protection with economic stimulation, have significantly impacted the property market. These changes, aimed at easing credit access while ensuring responsible lending, are altering the way individuals and investors approach property financing.
Impact on Homebuyers and Investors
The new lending landscape presents a mixed bag of opportunities and challenges for homebuyers and investors. For homebuyers, especially first-timers, the relaxed lending criteria can mean easier access to mortgages. Investors, on the other hand, are experiencing a shift in investment property lending rates, influencing their strategies and returns.
The Housing Market Response
The response of the housing market to these legislative changes has been notable. There has been an uptick in market activity, with an increase in property transactions and a gradual rise in property prices. This response is indicative of a rejuvenated market, spurred by easier access to loans and a growing interest in property investment.
Long-term Implications for the Property Market
While the immediate effects of the new lending laws are apparent, their long-term implications are more complex. Issues such as housing affordability and market accessibility for first-time buyers remain at the forefront. The market is also adapting to the evolving landscape of investment property lending rates, which could shape future investment trends.
Strategies for Navigating the New Lending Environment
In this new lending environment, it’s crucial for borrowers to strategize effectively. This includes thorough financial planning, understanding the nuances of loan agreements, and considering the long-term implications of borrowing decisions. Seeking professional advice can be invaluable in navigating this landscape.
The Role of Financial Advisors and Mortgage Brokers
Financial advisors and mortgage brokers play a pivotal role in guiding clients through the new lending landscape. Their expertise is crucial in helping borrowers understand the changes, assess their options, and make informed decisions that align with their financial goals.
Navigating the New Lending Landscape with Expert Guidance
Comprehensive Financial Understanding: Financial advisors provide comprehensive financial understanding. Their expertise extends beyond mortgages, offering clients a holistic view of their financial situation, ensuring that mortgage decisions align with broader financial goals.
Tailored Mortgage Solutions: Mortgage brokers offer tailored solutions. Leveraging their market knowledge, brokers navigate the new lending landscape to identify mortgage options that best suit clients’ needs, considering factors such as interest rates, terms, and repayment structures.
Informed Decision-Making: Both financial advisors and mortgage brokers contribute to informed decision-making. By explaining the implications of changes in the lending landscape, they empower clients to make decisions aligned with their financial goals, enhancing overall financial well-being.
Maximizing Financial Opportunities Through Expert Collaboration
Strategic Financial Planning: Financial advisors engage in strategic financial planning. They help clients understand the broader financial context, enabling them to integrate mortgage decisions into a comprehensive financial strategy for long-term success.
Market Insights for Mortgage Selection: Mortgage brokers provide market insights for optimal selection. Their in-depth knowledge of mortgage products allows clients to navigate the new lending landscape with confidence, selecting mortgages that align with both current and future financial needs.
Responsive Adaptation to Changes: Financial advisors and mortgage brokers enable responsive adaptation to changes. In a dynamic lending landscape, their guidance ensures that clients stay ahead of market shifts, adapting mortgage strategies to capitalize on opportunities and mitigate risks.
The new lending landscape presents both challenges and opportunities for those involved in the property market. Staying informed, adaptable, and strategic is key to navigating these changes successfully. Whether you’re buying a home or investing in property, understanding the impact of these lending law changes is essential.
FAQ
A: Recent modifications in lending laws, aimed at balancing consumer protection with economic stimulation, have significantly impacted the property market, altering how individuals and investors approach property financing.
A: The new lending landscape presents a mix of opportunities and challenges. Homebuyers, especially first-timers, find easier access to mortgages, while investors see shifts in investment property lending rates, influencing their strategies and returns.
A: The housing market has responded with an uptick in activity, increased property transactions, and a gradual rise in property prices, indicating a rejuvenated market spurred by easier access to loans and growing interest in property investment.
A: While the immediate effects are apparent, long-term implications are more complex, involving issues like housing affordability and market accessibility for first-time buyers, as well as adapting to evolving investment property lending rates.
A: Borrowers should strategize effectively, including thorough financial planning, understanding loan agreements’ nuances, and considering the long-term implications of borrowing decisions.
A: Financial advisors and mortgage brokers guide clients through the new lending landscape, helping them understand the changes, assess their options, and make informed decisions aligned with their financial goals.
Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.
About the Author:
Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilizes her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.
Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).
Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial.
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Are We Witnessing a Resurgence in the Property Market?
The Brisbane property market has been a topic of keen interest in the Australian real estate landscape. Known for its steady growth and resilience, the property market in Brisbane is increasingly being recognized for its potential investment opportunities.
Current Trends in Brisbane’s Property Market
Recent years have seen the Brisbane property market demonstrate robust growth, outpacing many other major Australian cities. This growth is characterized by a steady increase in property values, a surge in demand for residential properties, and a growing interest from both local and interstate investors.
Factors Driving Brisbane’s Market Growth
Several key factors are contributing to the growth of Brisbane’s property market:
Economic Stability: Brisbane boasts a stable and diversifying economy, which has been attracting businesses and job seekers, thereby increasing housing demand.
Population Growth: The city is experiencing significant population growth, with people moving from other states, drawn by the lifestyle and affordability Brisbane offers.
Infrastructure Development: Ongoing and planned infrastructure projects are enhancing the city’s appeal, making certain areas particularly attractive for investment.
Investment Opportunities in Brisbane
Brisbane offers a variety of investment opportunities, from high-rise apartments in the bustling city center to suburban family homes. Suburbs like Fortitude Valley, South Brisbane, and Chermside are witnessing high demand, offering promising returns for investors.
Risks and Considerations for Investors
While the Brisbane property market presents numerous opportunities, investors should be mindful of potential risks. It’s crucial to understand the local market dynamics, property cycles, and to be aware of any regulatory changes that could impact the property market in Brisbane.
Future Outlook for Brisbane’s Property Market
The future outlook for Brisbane’s property market remains positive, with experts predicting continued growth. This optimism is based on the city’s ongoing development, lifestyle appeal, and its relative affordability compared to Sydney and Melbourne.
Navigating the Brisbane Property Market with Professional Assistance
For those looking to invest in Brisbane’s property market, professional guidance is invaluable. Experts like Zippy Financial can provide insights into market trends, help identify lucrative investment opportunities, and offer advice on financing options.
Leveraging Financial Planning and Mortgage Broker Expertise
Strategic Financial Planning: Navigate Brisbane’s property market strategically with professional financial planning. Align financial goals with investment objectives for an optimized strategy.
Mortgage Broker Assistance: Engage a mortgage broker for personalized financing solutions. Experts like Zippy Financial guide you in securing optimal mortgage terms, ensuring financial efficiency in your Brisbane property investment.
Market Trend Analysis: Utilize financial planning and mortgage broker expertise for in-depth market trend analysis. Make informed investment decisions based on current and future trends in Brisbane’s property market.
Identifying Lucrative Opportunities Through Expert Guidance
Informed Investment Decisions: Leverage expert guidance for informed investment decisions. Financial planning and mortgage broker professionals assist in identifying lucrative opportunities aligned with your financial objectives.
Financing Strategies: Explore financing strategies with a mortgage broker like Zippy Financial. Receive tailored advice to ensure your Brisbane property investment aligns with financial goals and budget constraints.
Risk Mitigation Planning: Mitigate risks with financial planning and mortgage broker expertise. Navigate potential challenges in the Brisbane property market with a well-considered and secure investment strategy.
Tailored Financing Options for Brisbane Property Investment
Personalized Mortgage Solutions: Benefit from personalized mortgage solutions through a mortgage broker. Zippy Financial tailors financing options, optimizing affordability and financial efficiency for your Brisbane property investment.
Budgetary Considerations: Incorporate budgetary considerations into your investment plans. Financial planning and mortgage broker experts help balance investment goals and budget constraints for a successful venture.
Long-Term Financial Alignment: Achieve long-term financial alignment through expert guidance. Financial planning professionals, combined with the expertise of a mortgage broker, ensure your Brisbane property investment aligns with broader financial aspirations.
Brisbane’s property market is emerging as a hotspot for investors, characterized by its growth potential and stability. Whether you’re a seasoned investor or new to the property market, Brisbane offers a range of opportunities to diversify your investment portfolio.
FAQ
A: Brisbane is considered a potential property hotspot due to its affordable property prices compared to other major cities, strong economic growth, increasing population, and significant infrastructure developments, making it an attractive location for investors and homebuyers.
A: Factors such as consistent economic development, population growth, low-interest rates, and ongoing infrastructure projects are contributing to the growth of Brisbane’s property market, attracting both local and international investors.
A: Compared to other major Australian cities like Sydney and Melbourne, Brisbane offers more affordable property options, lower cost of living, and a subtropical climate, making it an appealing choice for potential homebuyers and property investors.
A: Yes, certain suburbs and regions in Brisbane are experiencing higher demand due to their proximity to the city center, quality schools, and public transport, making them particularly attractive for property investment.
A: Predictions for Brisbane’s property market are generally positive, with expectations of continued growth driven by economic stability, population increase, and ongoing infrastructure and development projects in the region.
A: Zippy Financial can provide expert advice and comprehensive services to those looking to explore property investment opportunities in Brisbane, offering insights into market trends, property valuation, and financing options to help clients make informed decisions.
Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.
About the Author:
Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilizes her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.
Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).
Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial.
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A Step-by-Step Guide to Finding Investment Property with Homeowner Appeal
In the ever-evolving landscape of the mortgage market, one of the most significant challenges facing borrowers today is the extended turnaround times for home loan processing. Understanding and adapting to these delays is crucial for a successful home loan strategy.
Current State of Home Loan Turnaround Times
Recent trends indicate a noticeable increase in the time it takes for lenders to process and approve home loans. Factors contributing to these longer turnaround times include heightened demand for mortgages, operational constraints among lenders, and the evolving role of technology in the lending process.
Impact on Homebuyers and the Property Market
Longer turnaround times are creating a ripple effect in the property market. For homebuyers, this means navigating a landscape where securing a property purchase quickly can be challenging. The delays can also contribute to heightened competition and pressure in the property market, potentially affecting property prices.
Navigating Challenges in Property Investment
Strategic Property Investment: Longer turnaround times emphasize the need for strategic property investment. Professionals guide homebuyers in identifying opportunities, ensuring informed decisions in a competitive market.
Market Dynamics and Competition: Understand market dynamics through property investment insights. Professionals provide valuable perspectives on competition, enabling buyers to make well-informed and timely decisions.
Price Trends and Property Values: Property investment experts offer insights into price trends. This aids homebuyers in navigating a market influenced by delays, supporting strategic decision-making.
Mitigating Challenges Through Property Investment Strategies
Investment-Driven Decision-Making: Embrace investment-driven decision-making in property purchases. Professionals can advise on aligning homebuying strategies with broader property investment goals for optimal outcomes.
Timing and Opportunity Identification: Property investment specialists assist in timing decisions and identifying opportunities. This involves leveraging delays to secure properties with growth potential and favorable pricing.
Risk Management in Property Acquisition: Property investment experts guide in managing risks associated with delays, assessing the impact on property prices and developing strategies to mitigate risks.
Strategic Purchase Planning: Incorporate strategic planning into property purchases. Professionals help devise plans that consider longer turnaround times, ensuring homebuyers can still make advantageous property investments despite market pressures.
Adapting Investment Goals: Property investment professionals assist in adapting goals to current market conditions. This involves aligning investment objectives with the evolving landscape to optimize outcomes in property acquisition.
Property Portfolio Optimization: Optimize property portfolios through informed investment strategies. Professionals guide in making adjustments based on market pressures, ensuring a well-balanced and resilient property investment portfolio.
Navigating the New Lending Landscape
Prospective homebuyers need to be prepared for these extended processing periods. Key steps include:
Financial Preparedness: Ensure your finances are in order, with a clear understanding of your borrowing capacity.
Understanding Lender Requirements: Familiarize yourself with different lenders’ criteria to streamline the application process.
Considering Pre-Approval: Obtaining pre-approval can give you a clearer idea of your budget and make you a more attractive buyer.
The Role of Technology in Streamlining Processes
Technology is playing an increasingly important role in the mortgage application process. Innovative digital solutions are being employed by lenders to streamline applications, though the full integration of these technologies is still a work in progress.
Working with Mortgage Brokers
In times of extended loan processing, the expertise of mortgage brokers becomes invaluable. They can guide you through the complexities of the application process, manage paperwork, and keep you updated on the status of your application.
Preparing for Future Market Changes
The mortgage market is dynamic, and turnaround times can fluctuate based on various factors. Staying informed about market trends and being flexible in your home loan strategy can help you navigate these changes effectively.
Longer home loan turnaround times require borrowers to be more proactive and strategic in their approach to securing a mortgage. By understanding the current landscape and preparing accordingly, you can enhance your chances of success in the competitive property market.
FAQ
A: Recent trends indicate a noticeable increase in the time it takes for lenders to process and approve home loans, influenced by factors like heightened demand for mortgages, operational constraints among lenders, and the evolving role of technology in the lending process.
A: Longer turnaround times are creating challenges in the property market, making it difficult for homebuyers to secure property purchases quickly and contributing to increased competition and pressure, potentially affecting property prices.
A: Homebuyers are advised to engage in strategic property investment, understand market dynamics, and gain insights into price trends and property values to make informed decisions in a competitive market.
A: By embracing investment-driven decision-making, timing decisions effectively, and managing risks associated with delays, homebuyers can mitigate challenges and capitalize on opportunities.
A: Technology is increasingly important in the mortgage application process, with lenders employing innovative digital solutions to streamline applications. However, the full integration of these technologies is still in progress.
A: Mortgage brokers can guide homebuyers through the complexities of the application process, manage paperwork, and keep clients updated on the status of their applications, making their expertise invaluable during extended loan processing times.
Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.
About the Author:
Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilizes her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.
Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).
Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial.
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Navigating the Path to Your Ideal Australian Home Loan .
If buying a home is at the top of your wish list for 2024, then read further for our rundown on how the property market fared in 2023 and why 2024 is shaping up as potentially another big year for real estate.
Let’s take a quick rear mirror look on how home values moved over 2023.
In a year that saw five official rate hikes, and a cost of living squeeze thanks to high inflation, home prices still jumped by 7% nationally. Several cities eclipsed those gains, with double-digit price growth in Sydney (10.2%), Brisbane (10.7%) and Perth (13.5%).
But it was not just price growth that took everyone by surprise. The speed of home sales was also astonishing, with plenty of suburbs in Perth, Sydney, Brisbane, and Melbourne selling houses in as little as eight to 25 days on average.
Will property values keep rising in 2024?
Higher interest rates have started to take a little heat out of the market. According to CoreLogic, home values across Australia rose 0.6% in November which is the smallest monthly gain since early 2023.
The factors that pushed prices higher in 2023 are still in place, and plenty of experts are tipping house prices will keep rising.
Three factors that could drive prices higher
Three main drivers look set to support house prices growth in 2024. These include:
Strong population growth
Population growth is rebounding strongly, driving by high immigration levels. More people generally mean more demand for housing.
A recent Domain report says “unprecedented” population growth will exert “extraordinary upward prices pressure” on the property market.
A housing undersupply
On the supply side, we are just not building enough new homes.
Australia’s housing shortage made headlines throughout 2023, and it does not look like it will get better any time soon. Building approvals for new homes are reported to be well below average levels.
A rental market that is as tight as a drum
Anyone looking for a rental can face an uphill battle. Vacancy rates are at record lows, making rental conditions tough. This could encourage more people to buy a place of their own through one of the government’s low deposit buying schemes. The First Home Guarantee scheme for instance, lets first home buyers get into the market with just a 5% deposit and zero lenders mortgage insurance.
Price growth is expected to be slightly lower
Most experts are tipping house prices will keep rising in 2024, though maybe not at the breakneck speed seen nationally in 2023.
Domain is forecasting house prices to jump 5-7% nationally, and in each capital city by:
7-9% in Sydney
2-4% in Melbourne
7-8% in Brisbane
6-7% in Perth
7-8% in Adelaide
3-5% in Canberra
2-4% in Hobart
We could be facing another bumper year of price growth, and if buying is on your radar, it may be worth trying to buy sooner rather than later to potentially avoid paying more.
Call us today to get the ball rolling on a home loan that helps you achieve your new year property goals sooner.
FAQ
A: In 2023, despite five official rate hikes and high inflation, home prices nationally jumped by 7%, with cities like Sydney, Brisbane, and Perth experiencing double-digit price growth.
A: The speed of home sales in 2023 was notable, with many suburbs in Perth, Sydney, Brisbane, and Melbourne selling houses in as little as eight to 25 days on average.
A: While higher interest rates have started to cool the market slightly, experts still anticipate house prices to continue rising in 2024, albeit at a potentially slower pace than in 2023.
A: Key drivers for house price growth in 2024 include strong population growth driven by high immigration levels, a housing undersupply, and a tight rental market.
A: Domain forecasts house prices to jump 5-7% nationally, with specific predictions for each capital city, including 7-9% in Sydney, 2-4% in Melbourne, and 7-8% in Brisbane.
A: “Unprecedented” population growth is expected to exert “extraordinary upward prices pressure” on the property market due to increased demand for housing.
Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.
About the Author:
Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilizes her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.
Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).
Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial.
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Property Buying in Today’s Market: Essential Tips and Insights
Navigating the property buying landscape in today’s market requires more than just a keen eye for good deals. With fluctuating interest rates and evolving market dynamics, understanding the nuances of property buying has become crucial for anyone looking to invest in real estate.
Understanding the Current Property Market
The current property market presents a mix of challenges and opportunities. Global economic factors, local market conditions, and policy changes are reshaping the landscape of property buying. It’s essential for potential buyers to stay informed about these changes to make strategic decisions.
Updated Tips for Property Buying
Market Research:
Conduct thorough research to understand local market trends and property values. This knowledge is key to identifying the right time and place to buy properties.
Financial Preparation:
Assess your financial situation carefully. Understand your borrowing capacity and ensure you have a solid financial plan in place.
Consider Long-Term Goals:
Align your property buying decisions with your long-term financial goals. Whether it’s for investment or personal use, think about how the property fits into your broader financial strategy.
Financial Planning and Budgeting
Effective financial planning, with the assistance of a mortgage broker, is the backbone of successful property buying. Create a realistic budget that accounts for all potential expenses, including mortgage payments, taxes, and maintenance costs. Ensure you have a financial buffer to manage unexpected market changes.
Navigating a Buyer’s Market
In a buyer’s market, you have more room to negotiate. Use this to your advantage to secure better prices and terms. Be prepared to act quickly when you find the right opportunity, as market conditions can change rapidly.
Making the Most of Government Schemes and Incentives
Explore government schemes and incentives that can make buying property more accessible. These programs can offer significant savings and support, especially for first-time buyers or those looking for affordable housing options.
The Role of Professional Advice in Property Buying
Seeking professional advice can greatly enhance your property buying experience. Real estate experts and financial advisors can provide valuable insights, help you navigate the complexities of the market, and assist in making informed decisions.
The Ultimate Guide to Buying Property
Navigating the property investment journey involves a multi-step process that demands careful planning and execution. From initial research to closing the deal, each step should be approached with diligence and strategic thinking. Ensure you understand all legal and financial aspects of the transaction before finalizing your property investment.
Property buying in today’s market can be a rewarding venture if approached with the right knowledge and strategies. By staying informed and prepared, you can navigate the complexities of the market and make sound investment decisions.
Frequently Asked Questions
What should I research before buying property in today’s market?
Research local market trends, property values, and economic factors that can influence the real estate market. Understanding these aspects is crucial for making informed property buying decisions.
How important is financial preparation in property buying?
Financial preparation is critical. Assess your borrowing capacity, create a realistic budget, and ensure you have a financial buffer for unexpected expenses or market changes.
Should I align property buying with my long-term goals?
Yes, aligning your property purchase with long-term financial goals is essential, whether for investment or personal use. Consider how the property fits into your broader financial strategy.
How can government schemes and incentives aid in property buying?
Government schemes and incentives can provide financial support and savings, especially for first-time buyers or those seeking affordable housing. These can include tax benefits, grants, or low-interest loans.
How do I ensure I’m making a sound investment when buying property?
Ensure you’re making a sound investment by conducting thorough research, seeking professional advice, and considering factors like location, property condition, and market trends.
What financial aspects should I consider when buying property?
Consider mortgage options, interest rates, property taxes, insurance, and ongoing maintenance costs. Also, plan for potential changes in your financial situation or market conditions.
Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.
About the Author:
Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.
Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).
Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial.
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Booming Demand: The Rising Appeal of Units in the Real Estate Market
Apartments stand out as an affordable choice when it comes to cracking the property market, not to mention downsizing. But a looming shortage may push unit values higher.
According to CoreLogic, units can be an affordable choice for first home buyers, costing around 30% less than houses. Then, as we head into our senior years, an apartment offers secure, low maintenance living, often with a wealth of amenities right at the doorstep.
Apartment demand is outstripping supply
Apartments may be affordable today, but a lack of new apartment construction coupled with rising immigration levels, points to a looming apartment shortage, according to CoreLogic. And that could push values higher.
Close to 60% of new home shortfall is expected to be in the apartment market.
On the demand side, CoreLogic says a stronger-than-expected level of migration into Australia has seen overall housing demand “skyrocket”. Historically, new migrants head to the high-density areas of our big cities, putting extra pressure on the unit market.
As explained by CoreLogic, with interest rates potentially easing in 2024, greater demand and tight supply could fuel a “price boom” in the unit market.
Why are more of us choosing apartment living?
Modern apartments are packed with the latest design and sustainability features, meaning that they are no longer the poor relation to freestanding houses.
Across our major cities, apartments now account for 30% of all homes, up from 23% in 2010.
And the appeal does not just lie with affordability. Today’s apartments usually come with a wealth of benefits including:
Government schemes:
because apartments are generally cheaper than houses, they are more often under the price caps for a range of government schemes including the Home Guarantee Scheme, stamp duty concessions and first homeowner grants (usually for new builds). These schemes can be combined to potentially save tens of thousands of dollars and get you into the property market sooner.
Sought-after locations:
apartment living can be the difference between living close to work or facing a long daily commute from the outer suburbs.
Lifestyle advantages:
the days of apartments being cramped and lacklustre are over. A variety of on-site amenities, from barbecue areas to pools, gyms, and car-wash bays, make unit living convenient and relaxing.
Low maintenance living:
not interested in spending precious spare time mowing the lawns or cleaning the gutters? Unlike houses, units require minimal upkeep, letting residents enjoy more quality time.
Improved security:
if you are after a lock-and-leave lifestyle, modern apartments fit the bill. Advanced security features add up to a safe and secure living environment.
Is now the time to take the leap?
Right now, apartments still present an affordable option for first home buyers, downsizers, and investors.
The median apartment price across our state capitals is currently $637,593, but if CoreLogic is correct, that figure will soon increase as demands outstrips supply.
So, if you would like help exploring your options to purchase your first property, for example, with just a 5% deposit via the Home Guarantee Scheme, then get in touch to discover your borrowing power.
Frequently Asked Questions
What is driving the increased demand for units in the real estate market?
The demand for units is being driven by factors such as affordability, urban lifestyle preferences, and the desire for lower maintenance living spaces.
Are units a good investment compared to traditional houses?
Units can be a good investment due to their typically lower entry price, potential for higher rental yields, and appeal to a diverse range of renters.
What should buyers consider when purchasing a unit for investment?
Buyers should consider location, amenities, body corporate fees, potential rental yield, and the overall condition and age of the unit.
How do units appeal to first-time homebuyers?
Units often appeal to first-time homebuyers due to their more affordable pricing and convenient locations near city centers and amenities.
Are there any downsides to investing in units?
Potential downsides include strata fees, restrictions on pet ownership and renovations, and possible oversupply in certain areas affecting growth potential.
How does the location of a unit impact its investment potential?
Location is crucial; units in high-demand areas, close to transport, shops, and amenities, typically have better growth and rental prospects.
Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.
About the Author:
Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.
Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).
Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial.
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Real Estate Jargon Busters: Decoding Property Terms for Today’s Market
Real Estate Jargon Busters: Decoding Property Terms for Today’s Market
In Navigating the real estate market can be a daunting task, especially with the plethora of terms and phrases unique to the industry. Understanding real estate jargon is crucial, whether you’re a first-time homebuyer in Australia, a seasoned investor, or simply curious about the property market. This guide aims to demystify the complex language of real estate, making it accessible and understandable for everyone.
Virtual Viewings
Gone are the days when property viewings were strictly in-person affairs. Today, virtual viewings are a mainstay, offering convenience and safety, especially in the wake of the COVID-19 pandemic. These digital tours allow potential buyers to explore properties remotely, providing a realistic sense of the space without the need to physically be there.
Green Mortgages
A relatively new term in the real estate lexicon, green mortgages, with the guidance of a mortgage broker, offer favorable terms to those purchasing energy-efficient homes. These mortgages are part of a broader initiative to promote sustainable living, with benefits including lower interest rates and additional borrowing capacity.
Gazumping and Gazundering
In the ever-changing landscape of real estate, these terms have taken on new significance. Gazumping occurs when a seller accepts a higher offer from a new buyer after already accepting an initial offer, while gazundering happens when a buyer lowers their offer just before the sale is finalized. Both practices reflect the dynamic and sometimes unpredictable nature of the real estate market.
Leasehold vs. Freehold
Understanding the difference between leasehold and freehold properties is crucial in real estate transactions. A freehold means owning the property and the land it stands on outright, while a leasehold involves leasing the land from the freeholder for a specified period. Recent changes in regulations may impact these arrangements, making it essential to stay informed.
Freehold Ownership: Complete Ownership and Control
Ownership Rights: With a freehold property, you own both the building and the land it stands on outright. This ownership is perpetual and includes the rights to use, modify, and sell the property without time constraints.
Flexibility and Control: Freehold ownership provides maximum flexibility and control over the property. Homeowners can make changes to the property, such as renovations or landscaping, without seeking permission from a landlord.
Potential for Appreciation: Freehold properties typically have greater potential for appreciation over time, as they represent a perpetual ownership interest in both the building and the land, making them more attractive to potential buyers.
Leasehold Ownership: Land Lease and Limited Duration
Land Lease Agreement: In a leasehold arrangement, the property owner holds a lease (a contractual agreement) for the land on which the property is situated. The land is typically leased from a freeholder or landowner for a specified period, often decades or centuries.
Lease Terms and Conditions: The lease outlines the terms and conditions governing the use of the land, including any restrictions on alterations or modifications to the property. Leaseholders pay ground rent to the freeholder as stipulated in the lease agreement.
Lease Renewals and Extensions: Leasehold properties may come with the option to renew or extend the lease, but this is subject to negotiation and may involve additional costs. Understanding the lease’s expiration and renewal terms is crucial for long-term planning.
Stamp Duty Land Tax (SDLT)
This tax on property purchases has seen various changes, especially with temporary measures introduced in response to market fluctuations. Being aware of the current SDLT rates and exemptions can significantly impact your property investment decisions
EPC Ratings
Energy Performance Certificates (EPCs) rate a property’s energy efficiency, becoming increasingly important in real estate transactions. A higher EPC rating not only means lower energy costs but also a reduced environmental impact, making it a key consideration for eco-conscious buyers.
COVID-19 Impact on Real Estate
The pandemic has fundamentally altered how we buy, sell, and rent properties. From increased demand for spacious homes to the rise of remote property transactions, COVID-19 has left an indelible mark on the real estate landscape.
Brexit’s Influence on the UK Property Market
Post-Brexit, the UK property market has experienced various shifts, affecting everything from property prices to investment patterns. Understanding these changes is vital for anyone involved in the UK real estate sector.
Technology in Real Estate
PropTech, or property technology, is revolutionizing real estate transactions. From AI-powered property valuations to blockchain in real estate contracts, technology is making the market more efficient and transparent.
Sustainable and Eco-Friendly Properties
The trend towards sustainable living has permeated the real estate market. Terms like ‘green buildings’ and ‘eco-friendly homes’ are becoming commonplace, reflecting a growing awareness of environmental issues in property development and investment.
Real estate jargon can be complex, but with the right knowledge, it becomes an invaluable tool in navigating the property market. Whether you’re in Australia or elsewhere, understanding these terms, including asset finance, empowers you to make informed decisions and stay ahead in the dynamic world of real estate.
Frequently Asked Questions
What is ‘Real Estate Jargon’?
Real estate jargon refers to specialized terminology and phrases commonly used in the property market and real estate transactions. Understanding these terms is crucial for buyers, sellers, and investors to navigate the market effectively.
Why is it important to understand real estate jargon?
Understanding real estate jargon is essential for making informed decisions, negotiating deals, and comprehending legal and financial aspects of property transactions.
What is ‘Equity’ in real estate?
Equity in real estate refers to the difference between the property’s market value and the outstanding balance of all liens on the property. It represents the owner’s financial stake in the property.
Can you explain ‘Fixed-Rate Mortgage’?
A fixed-rate mortgage is a home loan with a constant interest rate for the entire term of the loan, providing predictability in monthly payments.
What is ‘Stamp Duty’?
Stamp duty is a tax paid on certain property transactions, typically calculated as a percentage of the purchase price or property value.
What is ‘Capital Gains Tax’ in real estate?
Capital gains tax is a tax on the profit made from selling a property or investment. It is calculated based on the difference between the selling price and the original purchase price.
Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.
About the Author:
Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.
Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).
Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial.
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A Complete Guide to First Home Loan Deposit Scheme for First-Time Homebuyers
Navigating the journey of purchasing your first home can be as daunting as it is exciting. Amidst the sea of paperwork, financial decisions, and the quest for the perfect property investment lies the First Home Loan Deposit Scheme (FHLDS), a beacon of hope for many first-time homebuyers. This comprehensive guide aims to demystify the scheme, providing you with the knowledge and confidence to take that first step towards homeownership.
Understanding the First Home Loan Deposit Scheme
The FHLDS is an Australian Government initiative to support eligible first-time homebuyers. The scheme allows for a smaller deposit, as little as 5%, without the need for Lenders Mortgage Insurance (LMI). This can translate into significant savings, but what exactly is the First Home Loan Deposit Scheme, and how does it work?
What is the First Home Loan Deposit Scheme?
The scheme is designed to help first-time buyers enter the property market sooner by underwriting home loans for eligible participants. It’s a form of financial support that bridges the gap between the minimum deposit most buyers can save and the 20% typically required by lenders to avoid LMI.
Eligibility Criteria
To qualify for the FHLDS, you must:
Be a first-time homebuyer who has not previously owned or had an interest in a residential property in Australia.
Have a taxable income of up to $125,000 per annum for singles or $200,000 for couples.
Intend to be the owner-occupier of the purchased property.
The Role of Mortgage Brokers
Mortgage brokers can be invaluable in guiding you through the home loan process. They can help you understand the intricacies of the FHLDS and work with you to find a suitable lender. Their expertise can simplify the complex landscape of loans, rates, and terms, tailoring a solution that fits your unique financial situation.
Preparing for Your First Home Purchase
Before diving into the property market, it’s crucial to prepare. Here’s a checklist to get you started:
Budgeting: Assess your finances and determine how much you can realistically afford to borrow.
Saving: Focus on saving for a deposit, keeping in mind the 5% minimum for the FHLDS.
Credit Score: Check your credit score and take steps to improve it if necessary.
Interest Rates and Loan Options
With the FHLDS, you’re not restricted to one type of loan or lender. Interest rates and loan options will vary, so it’s essential to shop around. Compare the offerings from various lenders, including the loan terms, features, and flexibility, to find the best fit for your financial goals.
Navigating Paperwork and Compliance
The application process for the FHLDS involves its fair share of paperwork. From proof of income to identification, you’ll need to have your documents in order. Ensure you understand the requirements and deadlines to avoid any hiccups in your application.
Case Studies and Success Stories
Many first-time buyers have successfully navigated the FHLDS to purchase their first home. These stories can provide insights and inspiration, showcasing the scheme’s potential to make homeownership accessible.
The First Home Loan Deposit Scheme is a significant stepping stone for first-time buyers. It requires careful consideration and a thorough understanding of the financial commitment involved. By taking advantage of the scheme and leveraging the expertise of mortgage brokers, the dream of owning your first home can become a reality sooner than you might think.
Frequently Asked Questions
What is the First Home Loan Deposit Scheme?
The First Home Loan Deposit Scheme is a government initiative to help first-time homebuyers purchase a home with a lower deposit requirement.
Who is eligible for the First Home Loan Deposit Scheme?
Eligibility criteria typically include being a first-time homebuyer, meeting income caps, and purchasing a property within a specific price range.
How much deposit do I need under the scheme?
The scheme allows first-time homebuyers to purchase a home with as little as a 5% deposit, with the government guaranteeing the rest.
Can I use the scheme in conjunction with other government grants?
Yes, the scheme can often be used in conjunction with other government programs like the First Home Owner Grant.
Is there a deadline for applying to the scheme?
There may be specific intake periods or caps on the number of applicants each year, so it’s important to check current deadlines.
What happens if I sell the property purchased under the scheme?
Selling the property may have implications on the benefits received under the scheme, and it’s advisable to consult with your lender or financial advisor.
Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.
About the Author:
Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.
Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).
Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial.
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Post-Election Pulse: Gauging the Property Market’s Vital Signs
In the aftermath of the ballot box battles, the property market often reflects the nation’s economic expectations and investor confidence. As the dust settles from the recent election, stakeholders from homeowners to investors are keenly observing the market’s response. This article delves into the current state of the property market, offering a thermometer reading of its health and vitality in a post-election Australia.
Current Market Trends
The Australian property market is a dynamic entity, sensitive to the slightest political shifts. Current trends indicate a cautious optimism, with property values maintaining a steady climb, albeit at a more tempered pace than the pre-election fervor. Auction clearance rates, a reliable market temperature gauge, suggest that while the feverish competition has cooled, the market is far from cold.
Legislative Changes and Their Impact
Elections often bring promises of reform, and the property sector is no stranger to legislative shake-ups. Recent policy introductions have aimed at bolstering market integrity and accessibility, yet their true impact is a story still unfolding. Investors and homeowners alike are advised to stay abreast of these changes, understanding that today’s legislation shapes tomorrow’s market landscape.
Interest Rates and Financing
The Reserve Bank’s interest rate decisions have long been a cornerstone of market confidence. In this post-election period, the rates have held a steady line, offering a semblance of predictability in a sea of change. Borrowers find themselves in a favorable position, with attractive rates fostering a conducive environment for new investments and refinancing—further insights on this can be found on our home loans service page.
Investor Strategies
With the political chessboard reset, savvy investors are recalibrating their strategies. Diversification, long-term holdings, and a keen eye on emerging market pockets are the order of the day. The current climate calls for a blend of caution and boldness, with a premium on adaptive investment approaches.
Opportunities for Strategic Investment
Identifying Undervalued Assets: In a transitioning market, some properties may be undervalued or overlooked, presenting opportunities for investors to acquire assets with growth potential.
Portfolio Diversification: A period of market adjustment can be an ideal time to diversify your investment portfolio, spreading risk across different asset classes and property types.
Long-Term Perspective: A strategic approach to investment considers long-term objectives. It’s essential to align your investment strategy with your financial goals and financial planning, whether that’s building wealth, generating rental income, or planning for retirement.
Foreign Investment Flows
The global investment community’s gaze is fixed on the Australian property market, with foreign investment flows serving as a barometer for international confidence. While global economic headwinds challenge, the Australian market’s fundamentals remain robust, continuing to attract overseas capital.
Expert Opinions
Industry pundits are cautiously optimistic, forecasting a period of stability with potential for growth as the new political landscape takes shape. “The market is finding its equilibrium post-election, presenting opportunities for those with a strategic approach to investment,” shares a leading property analyst. For tailored investment advice, our team is ready to assist.
Seeking Tailored Investment Advice
Expert Guidance:Experienced property analysts, investment professionals, and mortgage brokers can provide you with insights and advice specific to your investment goals and the current market conditions.
Risk Assessment: Expert advisors can help you assess the risks and opportunities associated with various investment options, allowing you to make informed decisions.
Customized Strategies: Tailored investment advice takes into account your risk tolerance, investment horizon, and financial objectives, ensuring that your investment strategy is personalized to your unique circumstances.
Case Studies
Success stories in the current market are not hard to find. From astute first-time buyers to seasoned investors, the post-election market has been a fertile ground for those with an informed approach. These narratives not only inspire but also serve as a playbook for prospective market entrants.
Future Outlook
Looking ahead, the property market appears poised for a steady journey. Challenges such as affordability and supply constraints persist, yet the market’s underlying strength gives cause for a positive outlook. Investors and homeowners are encouraged to navigate this landscape with a mix of prudence and optimism.
The post-election property market is a complex yet promising field. Staying informed and engaged is crucial in harnessing the opportunities it presents. As we continue to monitor the market’s vital signs, we invite you to connect with us for a financial health check and bespoke investment advice, ensuring your decisions are made with clarity and confidence.
Frequently Asked Questions
What impact does an election have on the property market?
Elections can create uncertainty, which may cause temporary fluctuations in the property market as investors and homebuyers wait for policy clarity.
How long does it take for the property market to stabilize after an election?
Market stabilization post-election varies, but typically, it begins to settle once the new government’s policies become clear and investor confidence returns.
What are the signs of confidence returning to the property market after an election?
Increased activity, such as more property listings and higher auction clearance rates, can indicate returning confidence.
What strategies can investors use to navigate post-election market changes?
Investors should stay informed about policy changes, diversify their portfolio, and consider long-term trends rather than short-term fluctuations.
Are there opportunities in the property market immediately after an election?
Savvy investors may find opportunities due to market overreactions or policy changes that favor certain sectors of the market.
How can I protect my property investment from post-election volatility?
Maintaining a long-term perspective, ensuring a strong cash flow, and avoiding over-leveraging can help protect investments from volatility.
Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.
About the Author:
Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.
Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).
Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial.
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How will New Lending Laws Impact the Property Market?
Comparison Rate calculated on a secured loan amount of $150,000 for a term of 25 years. WARNING: This Comparison Rate is true only for the example given and may not include all fees and charges. Different terms, fees and other loan amounts might result in a different Comparison Rate. Fees and Charges Apply. Terms and Conditions are available on request.
