Five Reasons why NOW is a good time to chat with your mortgage broker.

Written By Shona Stephenson

1. It takes time to organise your finances.

2. The spring selling season is about to begin.

3. Have you reduced the lenders risk on your loan?

4. Changing Financial Circumstances.

5. Renovating your property

Bridging Finance, what is it? How does it work? Is it right for me?

Every lender has slightly different rules around this, but broadly, bridging finance is a short-term housing loan designed to provide immediate funding over a specific period, usually up to one year.  The loan is a temporary solution to "bridge" the gap between the need for funds and the availability of longer-term financing. Significantly, the servicing requirements differ, and the remaining (post 12 months debt) debt is the debt that is being assessed and not the entire loan.

Get Ready To Buy Your Dream Home; he is a helpful “5-Point Mortgage Approval Checklist,” written by a mortgage specialist.

The latest economic data indicates that Interest rates are anticipated to decrease as we approach the end of 2024, presenting a favourable opportunity for prospective homebuyers. The upcoming Spring and Summer seasons could be the ideal time to turn your homeownership dreams into reality. Now is the time to take proactive steps by engaging with your mortgage broker early to guarantee your readiness. By seeking clarity on essential matters and addressing any concerns promptly, you can establish a solid groundwork for a seamless home-buying experience.

2024 Australian Interest Rate Outlook.

I’m asked daily by my clients, “How high will Australian Interest rates go in 2024?” Or “When will interest rates drop?”

To answer the question, we have to consider many factors, including economic indicators, global trends, and the Reserve Bank of Australia's monetary policy media releases. The decision on interest rates is based on factors such as inflation, employment, and overall economic well-being. Considering the current global uncertainties, the Reserve Bank of Australia will likely adopt a cautious approach to maintain stability and encourage economic progress. Financial market observers eagerly await any signals or announcements that could reveal the path of Australian interest rates this year.