Cost-of-living increases blamed for home loans delays

More than four out of ten Aussies applying for home loans attribute delays in applications to the rising cost of living.

A survey conducted by LoanMarket revealed that more people blamed everyday expenses rather than potential increases to interest rates, reports the Herald Sun.

Dean Rushton, chief operating officer of the firm, commented: "The key driver bringing down approvals appears to be the everyday costs consumers are facing."

Aussies who are in the market for a new property may be able to offset the rising expenses they have to pay each day by going online to compare home loans to ensure they get the best deal.

Now may be a good time to start considering home loans in light of investment and business commentator David Kochie's recent assertion in his blog that the property market is beginning to decline.

With prices dropping, those who get home loan applications in could be set to pick up residences for lower prices than were previously possible.

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