Important Property Update from CoreLogic’s Tim Lawless (August 2019)

Important Property Update from CoreLogic’s Tim Lawless (August 2019)

Yesterday DG institute presented an important property Update on a webinar sharing a recently CoreLogic’s Tim Lawless property market analysis. Tim is one of Australia’s most experienced property market analysts and commentators. He is the go-to person for the media as well as a myriad of government entities.

DG institute had the opportunity to have an in-depth chat with Tim about what’s next for real estate market in Australia.

So DG Institute shared this valuable expert information, a lot of which you won’t hear anywhere else. he revealed. If you are at all interested in where the property market is heading next, watching this video will be worth your time. Its important to learn the property market if you want to reap from your hard money. Education is knowledge!

 
Lender serviceability has recently undergone significant modifications. Don’t wait any longer if you want to invest or own a home today!
 

The Australian Prudential Regulation Authority (APRA) declared on October 6th that lenders must assess borrowers’ ability to repay their loans at a rate that is at least 3.0 percentage points higher than the loan product rate, as opposed to the 2.5 percentage points it is now at..
Housing affordability is worsening, supply is increasing, and stimulation is decreasing as a result of slower growth conditions. It is quite probable that the housing market will continue to lose momentum as a result of these reasons, as well as the upcoming tightening of credit assessments.

On November 1, this became law.

Is there a reason for this?
It was prompted by rising house values, record low-interest rates that will soon rise, and an increase in borrowing by Australians as a result of these reasons.

There’s a lot of confusion about what it means
A pre-approval for a loan may necessitate a new assessment. It may necessitate that you seek a lower loan.

Investors – The amount you can borrow (in some situations) will be assessed based on all of your debt, which may have an influence on your future borrowing ability.

What should you do next?

Contact us right away or complete this questionnaire. There is a way we can assist you:

Take a look at your prior approval.

Examine how the alterations may affect your capacity to borrow money for investing purposes.

Discuss your real estate ambitions and/or analyse your present mortgage..

If you have any questions, don’t hesitate to ask.

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