What Is Going On In The Mortgage Industry

RBA CASH RATE UNCHANGED

The Reserve Bank of Australia (RBA) has decided to keep the cash rate at 1.5 per cent for the 25th consecutive month of RBA announcements

MORE TIGHTENING TO INTEREST ONLY LOAN

Earlier this year, the regulator announced new curbs to interest-only lending. Regulator’s focus on tightening of credit regulations on interest-only loans is a welcome change as it has encouraged more responsible lending by banks and other institutions to not place customers under undue stress and thus end up paying more on their home loans, particularly if their loan is an owner-occupied loan.

HOW TO NEGOTIATE IN A SOFTER HOUSING MARKET

Whatever the state of the market, every negotiation is based on the same premise – vendors want to receive the highest possible price while buyers want to pay as little as possible. Both, however, need to give careful thought to how they approach a negotiation when the market is in decline.

TIPS FOR VENDOR’S :

Be realistic ,Take offers seriously AND Be ready to act.

TIPS FOR BUYER’S :

Do your research – be clear about a realistic market price.

Let the agent know if you’re interested in a property

Call now on 1300 30 6767 or enquire through the form.