An Auswide Bank home loan promising to reflect future RBA cash rate changes has entered the market for owner-occupiers today. There is one catch - if the cash rate falls to 0% or below, customers will be charged interest at a fixed margin instead.
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Investors are snubbing houses in Sydney for Brisbane’s higher rental returns, according to a recent survey quizzing those already on the property ladder.
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The Sydney property market has recorded a high clearance rate of 85.1% over the weekend, according to Domain - but property prices remain out of reach for some first home buyers.
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Big four bank Westpac announced it would reduce discounts on several home loan packages by 0.2 basis points for new owner-occupiers and investors yesterday.
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CUA has recently launched its first ever ‘investor only’ home loan, easing restrictions around lending to investors, and opening the door for more Aussies to snap up an investment property.
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Sydney’s booming property market has shown no signs of slowing, evidenced by strong auction results, when the unofficial start to the spring selling season began last weekend.
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Time-consuming home loan applications may soon be a thing of the past, as Australia moves towards a more fast paced solution for prospective homebuyers.
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The biggest of Australia’s banks, the Commonwealth Bank, has slashed discounts across a range of its new home loan products by up to 0.15 basis points.
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It was good news for borrowers when the Reserve Bank slashed the official cash rate to a record low 1.50% at its August board meeting.
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Big four bank customers with variable rate home loans are set to lose hundreds of dollars annually after their lenders failed to pass on the full rate cut suggested by the RBA yesterday.
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