Sell with Confidence
Read More
News

The dilemma for Interest Only loan holders

By Alanna Ngo

Summer heat waves aren’t the only thing Australian households need to brace for. According to ABS data, 900,000 property loans will go from interest only (IO) mortgages, to principal and interest over the next 3 years. At today’s rates, these mortgagees will need an average $400 more for monthly repayments, if their loan is around $316,000 — almost $4,800 a year!

With banks raising out-of-cycle, credit rules tightening and a report due from the Royal Commission shortly, the screws are definitely tightening when it comes to loans and investors. All this may leave many IO borrowers in a sticky situation, joining the already growing league of ‘mortgage prisoners’ battling to negotiate or refinance.

And that’s where Loan Market comes in.

If you’re working with any of these types of clients, get in touch today. Our impressive panel of 35 lenders will compete fiercely, driving super hard to deliver your clients the most competitive deal. We’ll look at each bank’s lending criteria and see which one can help your client. There’s hope yet!

For more information from the Loan Market, Rob Zuo, please click on the link www.loanmarket.com.au/rob

Sourced: www.loanmarket.com.au

Up to Date

Latest News

  • A Little Ray Of Giving – Ray White Forest Lake

    This Christmas, Ray White Forest Lake will continue its popular tradition of giving with the return of ‘A little Ray of Giving’. The inspiring Christmas campaign will see the team at Ray White Forest Lake partner with Rotary Forest Lake to help disadvantaged children who may need a little extra light in … Read more

    Read Full Post

  • Ray White Forest Lake – Children’s Christmas Colouring Competition

    It’s the most wonderful time of the year, so let’s celebrate with some colour and creativity! The team at Ray White Forest Lake are holding a Children’s Christmas Colouring-In Competition this year to win great prizes: 1st Prize – $50 Gift Card from Event Cinema’s 2nd Prize – $30 Gift … Read more

    Read Full Post