Interest only home loans have grown substantially. When ASIC reviewed the market in 2015, it found that the total value of new interest only home loans issued by banks, credit unions and building societies had expanded to account for 43% of all new home loans issued and rising.
ASIC is thus forcing banks to reduce the number and size of Interest Only loans in an effort to minimise the impact on the wider housing market.Read More
The RBA has chosen to keep official interest rates frozen at 1.5% for another month following their meeting on Tuesday, December 6. Much to the delight of all mortgage holders.
Having said this, Australia’s banks source about 40% of the funds they lend on residential property from local bank deposits. The remaining 60% of funds are sourced from the international investment markets. Mostly through bond issues and the like.Read More
The first thing most of us look at when selecting an investment property is its location. If the property itself isn’t quite right, you can always renovate, but it’s not as easy to move a house to a better location. That’s why you should consider the location carefully. Here are some of the most important things to look for.Read More